But unfortunately Mike, RCCL almost ruined Celebrity after the merger. RCCL tried cramming Celebrity into the Royal Caribbean mold, and it didn't work well at all.

Carnival under Mickey, however, did a much better job of letting its aquisitions operate as they had previously, and is much the better for it.

It's also interesting how Carnival out-maneuvered RCCL in the Princess merger, when it looked like a slam-dunk for RCCL. I myself thought RCCL-Princess made more sense, and not just from an anti-trust perspective.

Will be interesting to see if RCCL learned from its Celebrity misadventure and lets the new cruise line alone.